Advanced flexible self build mortgages
Flexible mortgage funding may be necessary if you are required to pay a percentage for the costs of your building materials in advance. This can be achieved by:
Releasing equity from your existing property
There may be sufficient equity in your existing property to allow us to re-mortgage, thus releasing sufficient funds to provide you with money to start your self build project. Up to 90% of the value of your property may be released, minus the value of your existing mortgage; subject to income, affordability and meeting lending criteria.
For example, with a house value of £200,000 and £100,000 existing mortgage:
| 90% of existing house value |
£180,000 |
| Existing mortgage |
-£100,000 |
|
|
| Funds available for self build project |
£80,000 |
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